Adani Ports now owns 100% of Krishnapatnam Port
01 May 2021
Adani Ports and Special Economic Zone (APSEZ) has acquired the remaining 25 per cent stake in Krishnapatnam Port in Andhra Pradesh at a cost of Rs.28 bn from Vishwasamudra Holdings. Post-acquisition of the 25 per cent stake for a cash consideration of Rs.28 bn, APSEZ's stake in Krishnapatnam port would increase to 100 per cent from 75 per cent. With a waterfront of 20 km and 6,800 acre of land, Krishnapatnam port has a master plan capacity of 300 MMTPA and a 50-year concession.
The acquisition is subject to approvals under applicable laws, including approval of the Competition Commission of India (CCI), and the transaction is expected to be completed within three months.
Contact: Adani Ports and Special Economic Zone.
Tel: 079-2656 5555.
Website: www.stage.adaniports.com
Related Stories
